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Someone probably bypassed fusible links, that's usually the cause of electrical fires. Why can't you upload pics?I’m not sure Compression test results were with a battery charger connected, choke open and wide open throttle?
If it's been sitting that long, and who knows how long ago it was serviced, you may have sticking rings and items in the valve train. When you get it running I would do a double flush: 1 with cheap Penzoil, drive it for a half hour, dump. 2nd add quality oil of your choice, drive some more. Let cool, then test comp again, heeding VZ's advice. You may bring the levels closer. If not start with a valve job, measuring the cylinder wear at the top of your ring travel. If they are good, have the heads checked for leaking/burned valves. Some would say it's less work just to add MOTOR Flush, but some would cringe. I mean, it's better than nothing, but you're adding it to cruddy oil. If that's your route, I would add 2 quarts of it. I bought a low miles Volvo years ago that had not been serviced, running rough, oil black. Did my thing, afterward she purred like a kitten. It runs ok, but I’ll do it, thanks 'to each his own'
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Someone probably bypassed fusible links, that's usually the cause of electrical fires. Why can't you upload pics?Compression test results were with a battery charger connected, choke open and wide open throttle?